What should I do to sell my business?
The first step in selling your business should be consult a business broker to know the formulas that you will use to approximate the most convenient sale price to place your business on the market. The alternative of selling the business yourself could be difficult for you because you would have to learn a series of methodologies that would absorb valuable time and distract you from your routine business functions.
When a business owner hires a broker, they can rest assured that they will be able to dedicate the bulk of their time to continue operating their firm while the broker meets the following professional capacity requirements:
- Commitment: The broker will take care of advancing the following steps:
- Place the company for sale in the Market;
- Attract, interview and screen potential buyers and ensure that they have the necessary financial resources and managerial capacity;
- Advise the seller of the business during all stages of the process:
- Reception and analysis of the purchase offer placed by the potential buyer.
- Assist the seller to collect all the collections for the analysis of the potential buyer (Due Diligence).
- Coordinate with the closing agent all the details to execute the closing of the sale of the business.
- Confidentiality: This is, perhaps, the main difference between someone who sells real estate and someone who sells a business. The business broker must maintain the confidentiality of its mission and take safeguards so that neither the employees, nor the suppliers, nor the creditors, nor the competitors find out that a business sale process is underway.
- Rating: An experienced business broker should be able to express an opinion of the value of the company that serves to approximate the sale price, in line with the aspirations of the seller and the tolerance of the market.
- Business Listings: Business brokers are usually subscribed to multiple listing systems where businesses that their peers have for sale are also posted. So when you hire a business broker, you're getting the backing of an extensive sales force linked to the Florida Brokers Association (BBF).
- Wide Exposure: Business brokers are usually affiliated with specialized websites where they advertise the companies they have for sale, so the listings will have worldwide exposure via the Internet. In our particular case we have our site, negociosenflorida.com Florida's highest-traffic Spanish-language business portal.
- Intermediation: The broker serves as an articulation between the buyer and the seller and acts as a transaction agent that seeks to harmonize the wishes of the parties to achieve common satisfaction.
- Documentation: The broker is in charge of coordinating with the parties all the steps of the analysis process of the accounting and administrative books; The lease; licenses and permits and other paperwork. It will also coordinate with the closing agent the documentation related to the transfer of business assets to the buyer.
If you wish to meet confidentially with our broker, Alfredo González, call us at (305) 351-7766, send an email to Contact@negociosenflorida.com, or fill out the following form: